Portland is not a consensus market right now.

Markets look different depending on where you sit. From our vantage point — underwriting land, pricing construction in real time, navigating entitlement timelines, and forecasting lease-up 24 to 36 months out — the picture is more nuanced than the headlines suggest.

That combination created a perfect storm. Developers pulled back. Capital paused. Very few groups were willing to deploy money into land acquisition or early-stage development, because it became difficult to justify purchasing non-income producing land that simply didn’t have a clear exit strategy.

Investing in Multifamily Real Estate Development through Structured SPV’s

Read Portland Business Journal Article featuring Seneca Development Co.

Seneca Development Co. has been named to the Daily Journal of Commerce’s 2025 Power List

As we enter Q4 of 2025, the writing on the wall is now unmistakable: institutional capital is back in Portland, buying at compressed cap rates and betting on scarcity.

Read DJC Oregon Article

On Monday, June 16, the Portland City Council’s Finance Committee voted unanimously to advance a sweeping proposal.

Read Portland Business Journal Article

Read Portland Business Journal Article

Seneca Development Company and Lakeside Investment Group Unveil New Partnership for $60M Mixed-Use Development in Portland

Portland has the Lowest Supply-to-Absorption Ratio in the U.S.

A Turning Point for Market-Rate Development